Sanders Morris Harris LLC Acquires 81,750 Shares of Elanco Animal Health Incorporated (NYSE:ELAN)

Sanders Morris Harris LLC increased its holdings in Elanco Animal Health Incorporated (NYSE:ELAN - Free Report) by 31.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 342,360 shares of the company's stock after buying an additional 81,750 shares during the quarter. Sanders Morris Harris LLC owned about 0.07% of Elanco Animal Health worth $3,595,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ELAN. CoreCap Advisors LLC purchased a new stake in Elanco Animal Health during the fourth quarter valued at $29,000. Parallel Advisors LLC grew its stake in shares of Elanco Animal Health by 92.2% during the 1st quarter. Parallel Advisors LLC now owns 3,860 shares of the company's stock valued at $41,000 after purchasing an additional 1,852 shares during the period. Versant Capital Management Inc increased its position in shares of Elanco Animal Health by 65.9% during the 1st quarter. Versant Capital Management Inc now owns 4,382 shares of the company's stock valued at $46,000 after purchasing an additional 1,740 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Elanco Animal Health by 95.6% in the 4th quarter. Jones Financial Companies Lllp now owns 4,212 shares of the company's stock worth $51,000 after purchasing an additional 2,059 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Elanco Animal Health by 221.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,953 shares of the company's stock worth $60,000 after buying an additional 3,411 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company's stock.

Elanco Animal Health Price Performance

Shares of ELAN stock traded up $0.04 on Tuesday, hitting $13.46. 5,657,851 shares of the stock traded hands, compared to its average volume of 5,119,410. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.55 and a quick ratio of 1.31. Elanco Animal Health Incorporated has a 52 week low of $8.02 and a 52 week high of $18.80. The firm has a 50 day simple moving average of $10.66 and a two-hundred day simple moving average of $11.39. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.50 and a beta of 1.49.

Elanco Animal Health (NYSE:ELAN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.06. Elanco Animal Health had a return on equity of 6.78% and a net margin of 4.60%. The business had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period last year, the firm earned $0.34 earnings per share. The business's quarterly revenue was down 1.0% on a year-over-year basis. As a group, equities research analysts predict that Elanco Animal Health Incorporated will post 0.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. UBS Group reduced their target price on shares of Elanco Animal Health from $18.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Stifel Nicolaus upped their price objective on Elanco Animal Health from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Piper Sandler decreased their target price on Elanco Animal Health from $16.00 to $12.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Morgan Stanley lowered their target price on Elanco Animal Health from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 26th. Finally, Barclays reduced their price target on Elanco Animal Health from $20.00 to $19.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $15.17.

Insiders Place Their Bets

In related news, Director Lawrence Erik Kurzius purchased 10,000 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $10.20 per share, for a total transaction of $102,000.00. Following the purchase, the director now directly owns 111,459 shares in the company, valued at $1,136,881.80. This trade represents a 9.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.89% of the stock is currently owned by corporate insiders.

Elanco Animal Health Profile

Elanco Animal Health Incorporated, an animal health company, innovates, develops, manufactures, and markets products for pets and farm animals. It offers pet health disease prevention products, such as parasiticide and vaccine products that protect pets from worms, fleas, and ticks under the Seresto, Advantage, Advantix, and Advocate brands; pet health therapeutics for pain, osteoarthritis, ear infections, cardiovascular, and dermatology indications in canines and felines under the Galliprant and Claro brands; vaccines, antibiotics, parasiticides, and other products for use in poultry and aquaculture production, as well as nutritional health products, including enzymes, probiotics, and prebiotics; and a range of vaccines, antibiotics, implants, parasiticides, and other products used in ruminant and swine production under the Rumensin and Baytril brands.